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• <br /> BILL NO. <br /> ORDINANCE NO. 16(e Q- ?-‘, <br /> AN ORDINANCE TRANSFERRING $60,000 <br /> AMONG VARIOUS ACCOUNTS WITHIN THE <br /> DIVISION OF COMMUNITY DEVELOPMENT <br /> STATEMENT OF PURPOSE AND INTENT: <br /> In order to assure the efficient and timely utilization of Community <br /> Development Block Grant Funds and that the immediate needs of <br /> specific activities are met, transfers among accounts are necessary. <br /> NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of <br /> South Bend, Indiana: <br /> SECTION I. The sum of $60, 000 . 00 is hereby transferred among <br /> accounts as set forth below: <br /> Reduce the following accounts: <br /> Project No. Description Amount <br /> CD85-103 Receivership $60, 000 . 00 <br /> TOTAL $60, 000 . 00 <br /> Increase the following accounts: <br /> Project No. Description Amount <br /> CD86-102 Housing Rehab Fund $30, 000 . 00 <br /> CD86-202 Demolition 30 , 000 . 00 <br /> TOTAL $60, 000 . 00 <br /> SECTION II. No costs will be incurred or funds expended for any of <br /> the activities in this ordinance prior to an official release of <br /> funds received from the United States Department of Housing and <br /> Urban Development as may be required. <br /> SECTION III. This ordinance shall be in full force and effect from <br /> and after its passage by the Common Council and approved by the <br /> Mayor. <br /> Member of the ' .mmon Council <br />